Simpele and Joutseno mills transferred to new owners

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The deal concerning the mills in Simpele and the pulp mill in Joutseno was consummated on 31 March 1997. The business operations of the mills have been transferred to new owners. In the sale agreement made on 13 February 1997, UPM-Kymmene Corporation and Metsä-Serla Oy agreed to transfer the paper mill, board mill and carton factories in Simpele to Metsä-Serla's ownership. At the same time, UPM-Kymmene's pulp mill in Joutseno was acquired by Oy Metsä-Botnia Ab.